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Multi Channel Customer Experience - Challenges Practices Future

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Jeremy Cox, principal analyst and head of CRM research and insights at Ovum discusses the challenges, best practices and exciting future of multi-channel customer experience. View this presentation to get a detailed framework for building out your multi-channel customer service strategy and learn why just social is not enough.

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Multi Channel Customer Experience - Challenges Practices Future

  1. 1. Multi-channel Customer Experience Challenges, Practices & Future Jeremy Cox Jeremy.cox@ovum.com Directors Club March 6th 20131 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  2. 2. THE CHALLENGES2 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  3. 3. Are you adapting as fast as the world around you?3 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  4. 4. Technology and business model innovations drive customer expectations and behaviors …and more to come • Low cost Internet travel pioneer UK/Europe4 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  5. 5. ……and customers have more communications channels increasing complexity of the challenge 52% of consumers use 3 or 4 channels 25% of 22% of consumers use consumers use 1 or 2 channels 5 or more channels Source: Ovum research5 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  6. 6. Consumer success in resolving issues on the first attempt by channel Source: Ovum6 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  7. 7. Customers’ ability to use voice, mobile apps, SMS, email, web self-service, web chat, video and social media through a single device is forcing enterprises to rethink their customer service strategies Source: Ovum7 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  8. 8. A superior customer experience is now one of the top 3 CEO priorities *8 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  9. 9. BETTER PRACTICES9 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  10. 10. CRM can help when applied strategically ………………. Strategy Performance development Value Creation Multi-Channel Integration Assessment process: process: process: (impact CX) process: Value Sales Force Customer segment lifetime value analysis Business Integrated Channel Management Customer Shareholder Strategy Receives Results Physical • Business • Value Outlets • Employee Value Vision Proposition • Customer Value • Industry & • Value Competitive Direct Marketing • Cost Reduction Assessment Characteristics Co-Creation Call Centres Value Telephony Performance Organisation Receives Monitoring Customer Electronic / Mobile Virtual • Acquisition Commerce • Standards Strategy Economics • Satisfaction • Customer • Retention Choice & Social Media • Results & KPIs Economics Characteristics • Industry & competitive characteristics Data Repository (the corporate memory) • Segment Analysis Front Office Back Office Granularity IT Systems Applications Tools Applications Information Management Process: Source: Adapted from Adrian Payne & Pennie Frow. Strategic10 Customer Management: Integrating CRM & Relationship Marketing , Cambridge Press, forthcoming 2013 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  11. 11. Map and understand customer journeys and channel preferences Some best practices 1. Integrate all channels 2. Prioritise first contact resolution & empower 3. Develop a response strategy for social & guidelines 4. Be proactive re issues 5. Create & enable collaborative teams – marketing & support 6. Create Smart, Connected, Interactions 7. Close-loop real-time VOC feedback 8. Provide effective self-service - web/mobile 9. Predictive analytics 10. Find the authentic wow factor Source: Ovum – high level generic consumer example11 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  12. 12. Seamless continuity of experience across channels marks out the leaders Smart, Connected Interactions (SCI) Source: Ovum SCI Maturity Model12 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  13. 13. Offering pro-active chat reduces abandonment & secures new business ROI: Captured 40% of the previously abandoned traffic with Chat Spaces & increased sales rate via chat channel by 35%13 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  14. 14. THE FUTURE14 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  15. 15. The future of an organization is assured only if it can maintain its relevance to its customers15 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  16. 16. To be persistently relevant an enterprise needs to work in concert – it’s an enterprise-wide venture16 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  17. 17. The essence of the customer-adaptive enterprise is a relentless focus on continuous value delivery Recommendations: Do not rely on CEM alone for differentiation17 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  18. 18. The customer-adaptive enterprise is persistently relevant to its customers creating a sustainable advantage Management & People18 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  19. 19. People first technology second "There are 22 million disengaged employees that cost the American economy up to $350 billion per year in lost productivity, including absence, illness and other problems that result when workers are unhappy at work." However most importantly, disengaged employees cause customers to do business elsewhere. Source: Gallop19 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  20. 20. Leaders will orchestrate value through a portfolio of connected platforms & applications Enterprise Social Networking Customers Knowledge Mgt Web & Mobile Self Service Workforce CEM CRM Ecommerce Optimisation Customer Feedback Partners ERP Innovation Digital Marketing Financials Mgt In store SCM Kiosk Project Content Mgt Logistics Mgt Field sales & service Procurement Community hosting Communities Operational BI Predictive Analytics Compliance & Security Example only20 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  21. 21. Delivering a seamless service to customers through their channel of choice is a major step forward Enterprise Social Networking CEM Customers Knowledge Mgt Web & Mobile Self Service Workforce CRM Ecommerce Optimisation Customer Feedback Partners ERP Innovation Digital Marketing Financials Mgt In store SCM Kiosk Project Content Mgt Logistics Mgt Field sales & service Procurement Community hosting Communities Operational BI Predictive Analytics Compliance & Security Example only21 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  22. 22. Key messages  Make haste with developing a superior customer experience  Address the need to innovate continuously  Put the wow factor into the experience – it’s emotional  And new products, services and business models  Create a work environment where people matter and are engaged  Get joined up!22 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  23. 23. "There are only two sources of competitive advantage: the ability to learn more about our customers faster than the competition, and the ability to turn that learning into action fast.” Jack Welch former CEO of GE “On the face of it, shareholder value is the dumbest idea in the world. Shareholder value is a result, not a strategy... your main constituencies are your employees, your customers and your products.’’23 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  24. 24. ‘There will not be sustainable economic value creation if there is no personal development and human value creation at the same time.’ Sir Richard Branson24 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.
  25. 25. Thank you for listening Jeremy.Cox@Ovum.Com25 © Copyright Ovum. All rights reserved. Ovum is a subsidiary of Informa plc.

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